Bitcoin (BTC) is just too “decentralized and clear” for former FTX CEO Sam Bankman-Fried, says Cathie Wooden.
In a tweet on Dec. 10, Wooden, who’s CEO of funding big ARK Make investments, delivered a recent damning appraisal of the FTX saga.
Wooden: SBF “could not management” Bitcoin
Because the authorized ramifications of FTX and Bankman-Fried, often known as SBF, proceed, Bitcoin loyalists are giving him little sympathy.
ARK’s Wooden is now firmly amongst them, not mincing her phrases as BTC worth motion continues to commerce round 20% down over the month.
“The Bitcoin blockchain didn’t skip a beat in the course of the disaster brought on by opaque centralized gamers,” she wrote.
“No marvel Sam Bankman Fried didn’t like Bitcoin: it’s clear and decentralized. He couldn’t management it.”
Wooden linked to ARK Make investments’s newest Bitcoin market abstract, “The Bitcoin Month-to-month,” through which analysts together with David Puell got here out bullish on BTC regardless of the current setbacks.
“ARK’s conviction in decentralized and clear public blockchains is as robust as ever,” it said.
“The FTX and different instances like Celsius and Alameda counsel that decentralization and transparency are paramount as antidotes to the gross mismanagement that may be related to centralized intermediaries, particularly fraudulent ones.”
As Cointelegraph reported, ARK has nonetheless doubled down on its publicity to different crypto corporations feeling the warmth from FTX, notably Grayscale, a part of the Digital Foreign money Group (DCG) conglomerate, within the type of elevated holdings of the Grayscale Bitcoin Belief (GBTC).
The most recent buy of almost 177,000 GBTC shares occurred on Nov. 21, in line with knowledge from Wooden’s devoted web site, Cathie’s Ark.
ARK Make investments GBTC holdings chart (screenshot). Supply: Cathie’s Ark
Bankman-Fried has few allies in Bitcoi
In the meantime, the FTX saga rolls on, with Bankman-Fried taking middle stage as revelations proceed to pour out.
Associated: Bitcoin worth liquidation threat will increase as BTC struggles to reclaim $18K
Among the many most up-to-date was information that FTX sponsored crypto information outlet, The Block, through covert funds to its now former CEO, Mike McCaffrey.
Additional reviews point out that Bankman-Fried intentionally tried to destabilize the Bitcoin blockchain to assist restrict the FTX fallout.
“Sam used stolen & counterfeit cash to deprave the institution & undermine bitcoin,” MicroStrategy CEO, Michael Saylor, tweeted over the weekend in a equally hardline stance to Wooden.
“That is simply the tip of the iceberg. What number of different journalists, lecturers, cash managers, politicians, charities, influencers, & lobbyists did he corrupt or co-opt?”
BTC/USD traded above $17,000 into the weekly shut, knowledge from Cointelegraph Markets Professional and TradingView confirmed, with macro volatility due within the coming week.
BTC/USD 1-day candle chart (Bitstamp). Supply: TradingView
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